The global effort toward reducing greenhouse gas emissions has proven to be a steady but important race. In October 2021, Australia committed to delivering an aggressive target of net zero emissions by 2050. A big feat, since it was reported that by the first half of 2021, Australia produced 535.7 million tonnes of carbon dioxide equivalent emissions, 13 percent of which was from the agriculture sector, produced from livestock, application of fertilisers and soil additives, soil emissions and burning of agricultural residues.
Lithium plays an important role in achieving Australia’s net zero emissions goal, as lithium-ion batteries serve as major energy storage material in renewable energy. The total cash cost of lithium concentrate in 2021 increased to 17.4 percent year over year. As demand for lithium increases, prices in 2022 reached 430 percent higher year on year and are expected to rise by 22 percent in 2026 due to shortages in raw materials. This increase in demand is driven by global energy transformation and is supportive of emerging new spodumene projects entering the market.
One company geared towards developing minerals and sustainable products is Latin Resources (ASX:LRS). The company’s flagship Salinas Lithium Project is located 10km outside the town of Salinas, northeast of Minas Gerais, 80km away from Sigma Lithium’s (TSXV:SGML) Grota do Cirilo property. Although still early stage, the company’s goal is to develop a lithium JORC Mineral Resource in the next six months.
Latin Resources has amassed a lithium ground position of over 6,341 hectares in the highly prospective Bananal Valley district in eastern Brazil. The company recently secured additional highly prospective tenure covering 1.2 kilometres of the southern strike extension at the Colina Prospect, where known high-grade lithium pegmatites are interpreted to continue under shallow cover.
Latin Resources is fully funded to progress the Salinas Lithium Project to a Maiden JORC Resource through a capital raising worth AUD$35 million. The company released the latest results from diamond drilling in the northern limits of the Colina Prospect which extended the mineralised strike length for Colina to over one kilometre. The drilling campaign comprised an estimated 100 holes for approximately 22,000 – 25,000 m and focused on a strike extent of 800 metres.
Latin Resources has commissioned SGS Geological Services, Canada to commence and manage a Preliminary Economic Assessment (PEA) on the Company’s Colina Prospect. The company expects to deliver a Maiden JORC Resource for Colina by the end of the calendar year 2022 and complete the PEA by March 2023. Upon successful completion of the PEA, the company anticipates progressing directly to a Definitive Feasibility Study (DFS). SGS will also carry out a metallurgical test work program and the company plans to commission SGS to build a Dense Media Separation (DMS) pilot plant in Belo Horizonte, Minas Gerais and provide potential offtake customers with a representative lithium concentrate product.
The company’s Cloud Nine Halloysite-Kaolin Deposit presents an exciting opportunity as a globally significant kaolin-halloysite project located in Australia. Cloud Nine has the potential to be the largest single undeveloped halloysite/ kaolin deposit in Australia and features a current maiden mineral resource estimate of 207 million tonnes of kaolinized granite containing 123 million tonnes of bright white kaolin-bearing material and 84 million tonnes of kaolin/halloysite-bearing material in Cloud Nine.
Latin Resources has confirmed outstanding kaolin brightness results from Cloud Nine infill drilling in 2022. Significant thicknesses of exceptionally bright kaolinised granite were intersected, highlighting the quality of the world class Cloud Nine Halloysite.
In addition, Latin Resources signed an innovative $3.2 million research project with CRC CARE to develop methane reduction technologies using the clay mineral halloysite from its Cloud Nine Halloysite-Kaolin Deposit (“Cloud Nine”) near Merredin, Western Australia. This project enables Latin Resources to mine halloysite and at the same time, address the global need to reduce emissions.
In Argentina, Latin Resources holds a joint venture agreement with Argentinian investment group Integra Capital on the Catamarca Lithium project. Integra Capital has the option to acquire 50 percent interest in the Catamarca project on an investment of US$1 million. The Catamarca Lithium project is a high-grade lithium pegmatite project with the potential to host world-class deposits.
The company is committed to environmental, social and governance (ESG) credentials, as well as supplying the green economy with the minerals needed to cut global emissions. Latin Resources is focused on ensuring that its operations positively impact the environment, the sustainability of the businesses and the products that it creates. The company has a goal to meet and exceed its ESG framework and is utilising the Socialsuite platform to monitor and report on its ESG disclosure progress.
- Latin Resources has projects covering lithium, halloysite, kaolin and copper.
- Latin increased its lithium ground position to over 6,341 hectares in the Minas Gerais district in eastern Brazil for its Salinas Lithium Project.
- Latin Resources completed a capital raising worth AUD$35 million to advance the Salinas Project to a Maiden JORC Mineral Resource by end of 2022.
- Integra Capital Founder and the company’s largest shareholder, Mr. Jose Luis Manzano, doubled his shareholding for a consideration of $1,202,400 by exercising options
- Latin Resources has a strong land position with over 200,000 hectares of secured lithium pegmatite concessions in Brazil and Argentina.
- The company has commissioned an innovative $3.2 million research project with CRC CARE for the development of methane reduction technologies using the clay mineral halloysite from Cloud Nine near Merredin, Western Australia.
- Cloud Nine features a maiden Mineral Resource estimate of 207 million tonnes of kaolinised granite that has the potential to increase further.
- The company is committed to an ESG framework and supplying the green economy with the minerals needed to cut global emissions.
Salinas Lithium Project, Brazil
The Salinas Lithium Project is a high-grade lithium pegmatite project located in the Bananal Valley of the state of Minas Gerais in Brazil. The Company has a strategic landholding of over 6,341 hectares, with multiple drill targets defined within the prospective ‘lithium corridor’.
The Salinas Lithium Project is accessible via aeroplanes and roads and features powerlines, hydraulics, and a power station. The Project is strategically located in a superior mining district that is underexplored and near Sigma Lithium’s (TSXV:SGML) 85.7 million tonne mineral resource at the Grota do Cirilo property in Minas Gerais. The Brazil Lithium Pegmatite projects are also located near Companhia Brasileira de Lítio’s producing spodumene pegmatite mine.
The latest results from diamond drilling in the northern limits of the Colina Prospect confirmed that the high-grade pegmatites at Colina remain open to the south, with over 14.68m and 14.41m of spodumene-bearing pegmatite logged in the southernmost holes.
Cloud Nine Halloysite-Kaolin Deposit, Merredin, Western Australia
Cloud Nine is a globally significant and high-grade kaolin-halloysite project located near Merredin, less than 300 kilometres from the city of Perth. Cloud Nine is easily accessible by port and highway and contains similar geology to Andromeda Metals’ (ASX:ADN) prospective projects in South Australia.
The project has a maiden Mineral Resource Estimate of 207 million tonnes of kaolinized granite containing 123 million tonnes of bright white kaolin-bearing material and 84 million tonnes of kaolin/halloysite-bearing material in Cloud Nine. The halloysite sub-domain yields 50 million tonnes grading 6 percent halloysite using 1 percent halloysite cut-off or 27 million tonnes grading 8 percent halloysite using a 5 percent halloysite cut-off within the minus 45-micro subfraction.
Latin Resources has already begun a pre-feasibility study on the property and has completed the mineral resource infill and extension drill campaign sampling.
In its commitment to environmental, social and governance (ESG) credentials, Latin Resources has signed an innovative $3.2 million research project with CRC CARE for the development of methane reduction technologies using the clay mineral halloysite from the Cloud Nine deposit. The research project commences in January 2022 and under the agreement, CRC CARE will explore the use of halloysite for greenhouse gas (GHG) reduction and thereafter develop practical technologies. This includes cattle feed supplements, spreadable material and halloysite shale for inhibiting and absorbing methane. This project enables Latin Resources to mine halloysite while addressing the global need to reduce GHG emissions.
Latin Resources reported outstanding kaolin brightness results from Cloud Nine infill drilling in 2022. The company intersected significant thicknesses of exceptionally bright kaolinised granite showing the quality of the world class Cloud Nine Halloysite. Kaolinised granite has brightness values above 85 ISO B. About 66 percent of the drill holes analysed returned results above 80 ISO B.
Latin Resources’ Executive Director Chris Gale shared, “The potential for our Cloud Nine halloysite to be part of the suite of global solutions is significant. We are exceptionally excited by the commercial potential of the CRC R&D opportunity.”
CRC CARE R&D Project
Latin Resources has entered into a three-year $3.2 million research project with CRC CARE for the investigation of potential for the use of halloysite, as found at the Company’s Cloud Nine Deposit, to be utilised in the reduction of methane emissions in the agricultural sector. CRC CARE is performs research, develops technologies and provides policy guidance for assessing, cleaning up and preventing contamination of soil, water and air.
The Halloysite CRC Care Project 1 aims to investigate the impacts of adding halloysite as a feed additive for cattle under the hypothesis that the halloysite nanotubes will store
greenhouse gases (including methane) during the digestion process. The project also looks into the potential for greenhouse gases to be collected (as dung) and processed into biogas.
Catamarca Lithium Project, Argentina
The Catamarca Lithium project is a joint venture high-grade lithium pegmatite project located in the Catamarca province in Argentina. Integra Capital has the option to acquire 50 percent interest in the Catamarca project on an investment of US$1 million. The company is currently in the process of conducting mapping, rock chipping and soil sampling. Going forward, the company plans to pursue further work on the property to identify drill targets.
The project spans over 70,000 hectares and includes the Ancasti and Villisman projects. The property hosts underexplored spodumene pegmatite swarms with the potential to host world-class deposits.
The company recently identified Lithium of 1.219 percent Li2O in the only exposed mine at the Catamarca Northwest Alto. At present, Latin has a joint venture agreement on the Catamarca Lithium Project with the Argentinian investment group Integra Lithium. In April 2022, Integra Capital Founder and the company’s largest shareholder, Mr Jose Luis Manzano, doubled his shareholding and exercised 100,200,000 LRSOC options to acquire 100,200,000 fully paid ordinary shares for a consideration of $1,202,400.
David Vilensky – Non- Executive Chairman
David Vilensky is a practising corporate lawyer and an experienced director with publicly listed companies. He is the managing director of Bowen Buchbinder Vilensky which is a law firm based in Perth. Vilensky has more than 35 years of experience in the areas of corporate and business law and commercial and corporate management.
Today, Vilensky practises in the areas of corporate and commercial law, corporate advisory, mergers and acquisitions, mining and resources and complex dispute resolution.
Vilensky acts for several publicly listed companies and advises on directors’ duties, due diligence, capital raisings, compliance with ASX listing rules, corporate governance and general corporate transactions.
Vilensky is also a non-executive director of Vonex Ltd (ASX:VN8), an ASX-listed telecommunications and technology company.
Christopher Gale -Managing Director
Mr Gale has held various board and executive roles at several mining and technology companies during his 30-year career. Chris was the Chairman of the Council on Australian Latin American Relations (COALAR) established by the Australian Government Department of Foreign Affairs and Trade (DFAT) from 2012 to 2018.
He is currently Executive Director of Latin Resources Limited, Chairman of Solis Minerals and Oar Resources Limited. He is also a founding director of Allegra Capital, a boutique corporate advisory firm based in Perth and is a member of the Australian Institute of Company Directors (AICD).
Brent Jones – Non-Executive Director
Brent Jones is an experienced financial service professional. Jones has held operating roles at Woolworths, AFL, Civil Engineers – Ostojic Group and the National Tax and Accountants’ Association before joining Latin Resources.
Over the past 13 years, Jones has been the joint managing director of InterPrac Limited, an unlisted public company, specialising in providing the accounting industry with access to financial services products and distribution capabilities.
Jones has a degree in information technology and is a graduate of the Australian Institute of Company Directors (AICD). Jones is also a member of the National Tax and Accountants Association.
Pablo Tarantini – Non-Executive Director
Pablo Tarantini has accumulated broad professional experience in the mining industry. For two years, he served as executive director of the Argentinian Bureau of Investment and International Trade. At the Argentinian Bureau of Investment and International Trade, Tarantini coordinated investment initiatives and contributed his vast experience in several industries and countries. In that role, Tarantini also worked together with mining companies settled in the country and supported the promotion of mining activity in Argentina along with the Argentinian secretary of mining.
He has served as president and executive director of SAPISA and Minera Don Nicolás. SAPISA is an Argentinian private fund and Minera Don Nicolás is one of SAPISA’s investments in the mining sector. Minera Don Nicolas is also the first mining project based on the Argentinian capital. He has also served as the M&A director at General Electric and Advent International Corporation for Latin America. Tarantini was also the manager at A.T. Kearney. In all these roles, he carried out business and projects at the regional level.
Tarantini is a Public Accountant and holds a Bachelor of Business Administration from Universidad Católica Argentina (UCA). He has a Masters in Business Administration from Harvard Business School.
Tony Greenaway – Head of Exploration
Tony Greenaway is a senior geologist with broad experience gained over 23 years covering operations in Australia (WA and Lachlan Fold), Africa, South America (Chile), Central America (Mexico) and Asia (Indonesia).
The skillset that Greenaway brings to Latin provides significant operational and managerial strength that will enable the company to progress its current portfolio of projects.
Sarah Smith – Company Secretary
Sarah Smith is a Chartered Accountant with significant experience in the administration of ASX-listed companies. Smith is also heavily experienced in capital raisings, IPOs, due diligence reviews and ASIC compliance. Smith has acted as the company secretary for several ASX-listed companies. Smith also holds a Bachelor of Business.
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